LendingTree.com Weekly Mortgage Rate Pulse Reports Falling Rates

Volatile Rates Underscore Importance of Shopping Around

CHARLOTTE, NC (September 29, 2010)- Average mortgage rates dropped this week, according to the LendingTree Weekly Mortgage Rate Pulse, a snapshot of the lowest and average mortgage rates available within the LendingTree network of lenders.

On the same day, mortgage rates offered by lenders on the LendingTree network were as low as 3.875 percent (4.01% APR) for a 30-year fixed mortgage, 3.25 percent (3.58% APR) for a 15-year fixed mortgage and 2.75 percent (3.37% APR) for a 5/1 adjustable rate mortgage (ARM). Rates fell one-eighth of a point for 15-year fixed home loans and remained flat for 30-year fixed loans and 5/1 ARMs. “Since the end of August when Federal Reserve Chairman Ben Bernanke said the U.S. central bank would ‘do all that it can’ to ensure a continuation of economic recovery, mortgage rates have lacked any clear direction,” said Cameron Findlay, Chief Economist of LendingTree.com. “Rates are not simply just declining anymore as they have been since April, but rather the magnitude of change from day-to-day has been pronounced. For example, the average rate last Friday, September 24, was up 18 basis points from Thursday’s average rate.”

With such a volatile rate environment, it’s important for borrowers to do their homework before locking in a rate. LendingTree simplifies the loan shopping process by allowing consumers to compare multiple offers from up to five lenders, providing peace of mind by ensuring they’re receiving the lowest rate and the best terms. With its Mortgage RateFinder iPhone and Blackberry apps, users are able to obtain up to 30 different customized on-the-spot loan offers anonymously. Once a great offer is found, users can simply click to be contacted by that lender and move forward with the loan request.

Below is a state-by-state comparison of mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders on the LendingTree network, average loan-to-value ratio and percentage of consumers with negative equity.

The LendingTree Weekly Mortgage Rate Pulse will be published every Wednesday. Home loan rates above are reflective of actual rates offered to borrowers by lenders on the LendingTree network. Lowest rates shown reflect the payment of one discount point. Rates will vary based on the borrower’s loan details and credit profile. Visit www.lendingtree.com to learn more.

About LendingTree, LLCLendingTree, LLC is the nation’s leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more. LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 27 million loan requests and $207 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com or 800-555-TREE.